In Indices & Economy
Trading volumes are expected to be thin with Japan on public holiday, while Chinese markets reopen after a week-long break for the Lunar New Year holiday.
On Monday , MSCI’s broadest index of Asia-Pacific shares outside Japan was a tad weaker after it was toppled from a four-month top on Friday, Asian Indices on the back foot concern on global growth,Investors are looking ahead to trade talks this week with a delegation of U.S. officials traveling to China for the next round of negotiations.
World stocks ended last week in the red amid uncertainty about global economic growth and trade tensions, posting their first weekly drop this year. Still, Wall Street's main equity indexes recouped losses late on Friday, with the benchmark S&P 500 ending marginally positive and the Nasdaq adding 0.14%. The Dow Jones Industrial Average fell 0.25%.
Of recent concern to markets was the collapse in talks between U.S. Democrat and Republican lawmakers over the weekend amid a clash over immigrant detention policy, raising fears of another government shutdown.
U.S. President Donald Trump’s declaration that he had no plans to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.
In currency markets
The dollar held near a six-week high around 96.665 against a basket of currencies, and had its strongest weekly gain in six months, as traders piled into the greenback in a safe-haven move.
The euro was slightly weaker at $1.1326 while sterling down 0.1% at $1.2933.
The Australian dollar $0.7100 after going as deep as $0.7060 on Friday. hovered near one-month lows after the country's central bank shifted away from a previous tightening bias to say rates could now go in either direction.
In Energy Market
Oil prices held near recent ranges with gains capped by concerns about slowing global demand. U.S. crude was 13 cents weaker in early Asia at $52.57 per barrel while Brent had settled at $61.47 on Friday.
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